Update: Axa stands alone in its voluntary ban on referral fees

man walks alone in arctic landscape

After repeatedly calling for the banning of referral fees, Andrew Torrance, CEO, Allianz Insurance has said the situation will only be solved by an industry ban.

Mr Torrance told Insurance Age: "This issue will only be effectively eradicated if there is a market-wide solution and I believe this is most likely to come via regulation or some other mandatory instrument.

"This regulation needs to be drawn broadly enough to prevent current payers of referral fees adjusting their business models to

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected].

You are currently unable to copy this content. Please contact [email protected] to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Insurance Age? View our subscription options

If you already have an account, please sign in here.

To continue reading...

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: